What is a Quitclaim Deed in Wyoming?
In Wyoming, a quitclaim deed is used to transfer property from an owner (“Grantor”) to a new owner (“Grantee”), without any promises or guarantees about the property’s title. Quitclaim deeds are a quick way to transfer property but they offer the lowest security among real estate deeds in Wyoming.
The most common use of quitclaim deeds is between parties with high levels of trust, such as family members or close friends.
What is the Difference Between a Quitclaim Deed and a Warranty Deed in Wyoming?
The main difference between quitclaim deeds and warranty deeds in Wyoming is that a quitclaim deed provides less security to the Grantee.
A warranty deed provides legal protection to the new owner because it confirms that the Grantor owns the property and has the right to make a transfer. A quitclaim deed on the other hand only transfers the interest the Grantor has, if any, at the time of the transfer.
Warranty deeds are mostly used for real estate transactions in Wyoming. Quitclaim deeds, on the other hand, are used for transfers between family and friends.
How Do Quitclaim Deeds Work in Wyoming?
Laws surrounding quitclaim deeds are found under Chapter 34 of the Wyoming Statutes, titled Property, Conveyances and Security Transactions.
Wyoming laws provide sample language for a quitclaim deed. It must state that the Grantor intends to “convey and forever quitclaim” all their interest unto the Grantee. The term “release” is only included when the Grantor does not intend to transfer any rights or interests they may gain in the future.
Once prepared, the quitclaim deed must be filed at the Clerk’s Office in the county where the property is located.
Can You Prepare Your Own Quitclaim Deed in Wyoming?
You can prepare your own quitclaim deed in Wyoming. A professional drafter is not legally required.
Wyoming Quitclaim Deed Requirements
Formatting and content requirements in Wyoming have been standardized through both statute and county processes, as listed below.
Formatting Requirements
Formatting requirements for quitclaim deeds in Wyoming include:
- Paper size: maximum 8.5x 14 (legal).
- Font size: 12-point.
- Text color: black or blue only.
- Text: color must be dark and clearly reproducible.
- Text should be printed or typed only.
- Document must be the original or a certified copy.
- Margins: Minimum 2 inch margin on top for official use, remaining pages and sides 1-inch.
Content Requirements
Content requirements for quitclaim deeds in Wyoming include:
- The Grantor’s name and address.
- The Grantee’s name and address.
- Grantor’s marital status, and spouse’s name.
- Return name and address.
- The title “Quitclaim.”
- The property address.
- Property’s homestead status.
- Property Description:
- The property description must contain the proper descriptors, including metes and bounds such as section, township, and range, subdivision, each different tract, unit, or block.
- If a secondary document is referenced, information such as the date registered, the book, page, and registration numbers must be mentioned on the deed.
- Granting clause – a statement describing the transfer the parties have agreed to.
- Consideration clause – the value or the amount of money exchanged.
Who Signs a Quitclaim Deed in Wyoming?
For a quitclaim deed to be legally valid in Wyoming, it must be signed by the Grantor. The Grantor’s signature must be acknowledged by a notary public.
If the Grantor is married and the property is registered as a homestead, both spouses must sign the quitclaim deed. Alternatively, a spousal waiver of homestead rights can be signed and attached.
How to File a Quitclaim Deed in Wyoming
Here’s how to file a quitclaim deed in Wyoming:
- Prepare the quitclaim deed with the required information.
- Wyoming Statement of Consideration:
- All transfers of real estate must be accompanied by a completed Statement of Consideration.
- The Grantor must file the form with the County Clerk’s Office at the time the quitclaim deed is submitted.
- Many transfers generally filed under quitclaim deeds are exempt from the requirement to file the Statement, including:
- Transfers that correct or add a previous document without extra payment.
- Transfers between spouses or between parent and child with minimal payment.
- Transfers due to business mergers, consolidations, or reorganizations.
- A gift of more than half the property’s value.
- An instrument that transfers property back to the same person.
- Once the quitclaim deed is executed, ensure the Grantor’s signature is acknowledged before a notary public.
- Finally, the quitclaim deed must be filed at the Clerk’s Office in the county where the property is located.
How Much Does it Cost to File a Quitclaim Deed in Wyoming?
In Wyoming, the minimum charges for filing a quitclaim deed are as follows:
- Recording fee (first page): $12.
- Each additional page: $3.
- Each additional grantor after five:c$1.
- Each additional legal description after 10: $1
- Recording fee, plats, and maps: $75.
- Recording fee, surveys: $50.
What Taxes Are Owed on Quitclaim Deeds in Wyoming?
In Wyoming, property transfers, including transfers through quitclaim deeds, are not subject to transfer taxes. However, annual real estate taxes may still apply.
Moreover, federal taxes such as Gift Tax and Capital Gains Tax may also be applicable.
How Long Does a Quitclaim Deed Take to be Recorded in Wyoming?
The time it takes to record a quitclaim deed in Wyoming varies based on the county, however, most offices process the deed within a few weeks.
What Happens After a Quitclaim Deed is Recorded in Wyoming?
When a quitclaim deed is submitted to the County Clerk’s Office, it undergoes an initial verification check. Once verified, the deed is stamped with the date and time and indexed to be stored in the county’s records. The deed is then scanned and a public record of the transfer of the property’s ownership is officially established.
How Long Are Quitclaim Deeds Valid For in Wyoming?
There is no expiration for quitclaim deeds in Wyoming. However, the statute of limitations to recover property in Wyoming is 10 years.
Sources
- 1 QC Statutes
-
Quitclaim deed. A deed of quitclaim and release shall be sufficient to pass all the estate which the grantor could lawfully convey by deed of bargain and sale
Form of quitclaim deed; effect generally… shall be deemed and held a sufficient conveyance, release and quitclaim to the grantee…but shall not extend to after acquired title unless words are added expressing such intention..
- 2 WY Stat § 34-2-103
-
Form of warranty deed; effect; implied covenants… when otherwise duly executed, shall be deemed and held a conveyance in fee simple, to the grantee, his heirs and assigns, with covenants on the part of the grantor, (a) that at the time of the making and delivery of such deed he was lawfully seized..
Source Link - 3 WY Stat § 34-2-104
-
Form of quitclaim deed. Quitclaim may be in substance in the following form… A. B., grantor… or the consideration… conveys and quitclaims to … all interest in the…
Source Link - 4 WY Stat § 34-2-106
-
A deed of quitclaim, without the use of the word “release” shall be sufficient to pass all the estate which the grantor could lawfully convey by deed of bargain and sale. And all deeds of quitclaim, heretofore given to real estate in this state, shall have the same effect as deeds of quitclaim and release and shall operate the same as if the word “release” had been used therein.
Source Link - 5 WY Stat § 34-1-118
-
Where conveyance to be recorded… mortgage or conveyance, certificate or certificates aforesaid, to be recorded in the office of the county clerk in the county where the land lies.
Source Link - 6 Formatting Requirements
-
I. WY Stat § 18-3-402 (a)(viii)
Require any person presenting a document for recording which is legible but not sufficiently clear to produce a readable copy to substitute a clear original or legible true copy of the original document…
II.Platte County, WY – Clerk’s Office
Here are some things we look for before recording a document.. All documents must be originals or certified copies.. No larger than legal size (8 1/2″ x 14″).. Two (2) inch top margin; one (1) inch right hand, left hand and bottom margins..
- 7 Content Requirements
-
Form of quitclaim deed… A. B.,.. grantor’s name or names, and place of residence…grantee’s name or names) all interest in the following described real estate… insert description
II. Albany County, WY – Clerk’s Office
If the document is amending, releasing, or otherwise related to a previously recorded document, including the document number or book and page of the previously recorded document is highly recommended for accurate recording.
- 8 WY Stat § 34-1-113
-
Execution of deeds, mortgages or other conveyances of lands, or any interest in lands, shall be acknowledged by the party or parties executing same, before any notarial officer. The notarial officer taking such acknowledgment shall comply with the requirements of W.S. 32-3-109.
Source Link - 9 WY Stat § 34-2-121.
-
Conveyance and encumbrance of homesteads void unless spouse joins; exception. Every owner or occupant of a homestead.. may voluntarily sell…provided the instrument of writing conveying,…shall contain in substance the following words: “Hereby releasing and waiving all right..”
Source Link - 10 Statement of Consideration
-
Instrument transferring title to real property…..When a deed, contract or other document transferring legal or equitable title to real property.. the instrument shall be accompanied by a statement under oath by the grantee or his agent disclosing the name of the grantor and grantee, the addresses
II. WY Stat § 34-1-142 (c)
For instruments transferring title as described in this subsection, the presenting party may omit from the statement .. An instrument which confirms, corrects, modifies or supplements a previously recorded instrument without added consideration.. A transfer pursuant to mergers, consolidations or reorganizations of business entities;
- 11 WY Stat § 18-3-402 (a) (xvi)
-
Duties generally. Collect and remit to the county treasurer the following fees.. Recording charges for any instrument-first page .$12.00.. Each additional page $3..
Source Link - 12 WY Stat § 1-3-103
-
Recovery of real property; generally. An action for the recovery of the title or possession of lands, tenements, or hereditaments can only be brought within ten (10) years after the cause of such action accrues.
Source Link
